If you buy an existing ecommerce store, you probably want to achieve more than the previous owner. But how do you go about increasing the store’s profit?
There are quite a few ways in which you can make sure that your new purchase will pay for the investment multiple times over while increasing profit margins.
Here are some really handy tips on revenue generation and how to make the most out of your ecommerce store.
A landing page is a page which contains an item of interest or profit for you. Getting people directly to that page is called funneling, as you are channeling your audience directly to what you want them to see.
While people might browse around your store and buy all sorts of items, you might have a specific item or category of items that you need sold faster or first. In order to achieve this, you can use funneling to send people directly to the page containing this important item. It’s a more controlled way of selling items.
Online marketing has many branches, but one of the most important ones today is social media.
Social media is not only one of the most powerful means of accessing a huge data pool for potential customers or users from all demographics, but it’s also free.
This makes it a must-have. And if you want to get the most out of your website or online store, you need to incorporate multiple social media platforms into your marketing strategy.
Oftentimes, an acquired store comes with established social media profiles with hundreds if not thousands of followers who are interested in your various promotions, discounts, and offers. Think of it as a billboard everyone in the world can see.
Emails lists are lists of email addresses you can send out your promotional and marketing content to.
The more addresses you have on your list, the more people you can directly funnel towards your landing page or whatever location on the internet you want them to check out.
Many companies make most of their profit using email lists, as the power of this method has been demonstrated many times over. The best thing about email lists is that they expand. So you can continue to grow them and acquire new emails for your list.
Fortunately, if you buy an existing ecommerce store, you will often be able to acquire the email list of the store. This will go a long way in bolstering your initial email marketing efforts. You can also acquire more email addresses by offering a form of reward like discounts or limited content to those that subscribe to your newsletter.
SEO, or Search Engine Optimization, is essential for the success of your online platform, regardless of its marketable implications. A website needs SEO in order to rank as high as possible on Google’s search results page.
The higher up you are on the page, the more shoppers you will have per day since your link will be more visible. If you aspire to earn a profit from your online platform, you need to invest in SEO so that it is easy for new users to discover and access your platform.
Acquired ecommerce stores, especially if they have been around a while, often have invested in SEO and may already rank for certain keywords. This can help you figure out what products to sell and what demographics to target when you perform your own keyword research for your ecommerce store.